# BlackRock BUIDL Tokenized Fund

> BlackRock launched the BUIDL fund in March 2024 — the first tokenized money market fund on a public blockchain. The fund invests 100% in U.S. Treasury bills and pays daily dividends directly to investor wallets. Securitize handles tokenization, compliance and trading. BUIDL surpassed $1 billion AUM in under 40 days and is the world's largest tokenized fund at over $2.5 billion.

**Sector:** Tertiary sector · **Industry:** Asset management · **Organisation:** BlackRock (mit Securitize) · **Maturity level:** Production

Canonical URL: https://www.sapientblock.com/en/use-cases/blackrock-fondsanteile-token-handeln

## Documentation status

- **Project status:** Production
- **Evidence:** Evidence high
- **Editorial review:** Ufuk Avci, 15 April 2026

## Description

BlackRock launched BUIDL (BlackRock USD Institutional Digital Liquidity Fund) in March 2024 on Ethereum, tokenised by Securitize. The fund invests 100% in US Treasury bonds, cash, and repos. Each token represents a fund share worth 1 dollar with daily dividend accumulation. In under 40 days, BUIDL reached 1 billion dollars AUM and is with over 2.5 billion dollars the largest tokenised fund worldwide. Available on 9 blockchains since November 2024.

BUIDL represents the turning point of institutional tokenisation. BlackRock — the world’s largest asset manager with over 10 trillion dollars AUM — thereby validates blockchain as infrastructure for traditional financial products.

## Benefits

- Institutional investors use BUIDL as yield-generating collateral in DeFi protocols — an alternative to non-yielding stablecoins.
- Crypto exchanges accept BUIDL as security for trading positions, thereby reducing capital requirements.
- First-time access to BlackRock products via decentralized channels for DeFi users.
- Real-time settlement instead of T+2 significantly reduces counterparty risks and capital lock-up.
- Daily dividend distribution directly into investors’ wallets — without intermediaries.
- Multi-chain availability on 9+ blockchains maximises reach and interoperability.
- Compliance teams benefit from on-chain transparency for simplified regulatory reporting.
- Settlement teams are relieved from manual reconciliation work.

## Challenges

- Integration of tokenised assets into existing custody and reporting infrastructure requires significant technical adjustments.
- Access requires wallet infrastructure and KYC verification via Securitize — a technical hurdle for end users.
- Regulatory uncertainty in many jurisdictions regarding tokenised fund shares as securities.
- Dependence on Securitize as central tokenisation and compliance partner.
- Staff in operations and compliance need training in blockchain technology and on-chain reporting.

## Technology foundation

Ethereum ERC-20 token standard, multi-chain deployment via Wormhole interoperability, Securitize as transfer agent.

## Sources

- [BlackRock BUIDL Fund – Securitize](https://securitize.io/learn/blackrock-buidl-fund)
- [BusinessWire: BlackRock Launches Its First Tokenized Fund, BUIDL, on the Ethereum Network (19.03.2024)](https://www.businesswire.com/news/home/20240320771318/en/BlackRock-Launches-Its-First-Tokenized-Fund-BUIDL-on-the-Ethereum-Network)
- [Bloomberg: BlackRock's Tokenized Fund Draws $240 Million Since Debut](https://www.bloomberg.com/news/articles/2024-03-27/blackrock-tokenized-fund-draws-160-million-in-week-since-debut)